Burges Grove Management Company Limited - Limited company accounts 16.3

REGISTERED NUMBER: 03372122 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

BURGES GROVE MANAGEMENT COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Income and expenditure account

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

D C Jackson

N D Jay

P P Phillips

N R Sumption

SECRETARY:

Hertford Company Secretaries Limited

REGISTERED OFFICE:

RMG House

Essex Road

Hoddesdon

Hertfordshire

EN11 0DR

REGISTERED NUMBER:

03372122 (England and Wales)

ACCOUNTANTS:

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

PRINCIPAL ACTIVITY

The company's activities comprise the control, supervision and management, on behalf of the lessees, of the property

known as Burges Grove, Barnes, London SW13 8BG. The company owns the freehold interest in respect of the

roadway and adjoining walkways within the site.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this report.

D C Jackson

N D Jay

P P Phillips

N R Sumption

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the surplus or deficit of the company for that period. In preparing these financial statements, the

directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

P P Phillips - Director

19 July 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Burges Grove Management Company Limited for the year ended 31 December 2016 which

comprise the Income and expenditure account, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Burges Grove Management Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Burges Grove Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Burges Grove Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Burges Grove Management Company Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Burges Grove Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Burges Grove Management Company Limited. You consider that Burges Grove Management Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Burges Grove Management Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

19 July 2017

TURNOVER

7,332

7,644

Administrative expenses

(5,836

)

(6,148

)

OPERATING SURPLUS

4

1,496

1,496

Interest receivable and similar income

18

16

SURPLUS BEFORE TAXATION

1,514

1,512

Tax on surplus

5

-

-

SURPLUS FOR THE FINANCIAL YEAR

1,514

1,512

FIXED ASSETS

Tangible assets

6

1

1

CURRENT ASSETS

Debtors

7

22,710

19,706

CREDITORS

Amounts falling due within one year

8

(5,959

)

(4,469

)

NET CURRENT ASSETS

16,751

15,237

TOTAL ASSETS LESS CURRENT LIABILITIES

16,752

15,238

RESERVES

Reserve Fund

9

16,752

15,238

16,752

15,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 July 2017 and were signed on its behalf by:

P P Phillips - Director

1.	STATUTORY INFORMATION

Burges Grove Management Company Limited is a private company, limited by guarantee , registered in England

and Wales. The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises service charge receivable from the lessees of Burges Grove.

Recognition of income

Turnover is recognised in the financial statements concurrently with service charge expenditure incurred in the

year in addition to any contribution to the reserve fund that has been provided for the management of Burges

Grove.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	OPERATING SURPLUS

The directors' received no remuneration in respect of their services to the company for the year.

5.

TAXATION

Service charge funds are held by the company in trust for the tenants and hence any income tax

chargeable at the rate applicable to such trusts is not reflected in these accounts.

6.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2016

and 31 December 2016

1

NET BOOK VALUE

At 31 December 2016

1

At 31 December 2015

1

As the freehold interest is not primarily held for its investment potential, the directors do not consider the property

to be an Investment Property as defined by the Financial Reporting Standard 102.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Other debtors

22,710

19,706

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Other creditors

5,959

4,469

9.

RESERVES

Income

and

expenditure

Reserve

account

Fund

Totals

£

£

£

At 1 January 2016

-

15,238

15,238

Surplus for the year

1,514

1,514

Reserve Fund contribution

(1,514

)

1,514

-

At 31 December 2016

-

16,752

16,752

10.	LIMITED BY GUARANTEE

The company is limited by guarantee and hence does not have a share capital.

Under the company's Memorandum of Association, each member of the company undertakes to contribute such

amount as may be required (not exceeding £1) to the company's assets if it should be wound up.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by a voting majority of its members and accordingly there is no controlling related

party.